Gemstar Q4 profit more than doubles
EmptyGemstar-TV Guide International Inc., publisher of the weekly TV Guide magazine, said Wednesday fourth-quarter earnings more than doubled, driven by higher advertising and interactive revenue.
The company, which also licenses searchable program guide technology to cable and satellite TV companies and television makers, said net income rose to $31.8 million, or 7 cents per share, from $12.7 million, or 3 cents per share, a year earlier.
Gemstar said revenue rose 12% to $145 million from $129.4 million a year ago.
Analysts polled by Thomson Financial expected profit of 4 cents per share on revenue of $140.7 million.
For the year, net income rose 32% to $72.5 million, or 17 cents per share, and revenue fell 5% to $571.3 million.
Gemstar shares rose 6 cents, or 1.5%, to close at $4.04.